BitFuFu Inc. (NASDAQ:FUFU) Sees Significant Increase in Short Interest

Key Points

• Short interest surged 52.3% in April to 174,930 shares (about 0.2% of the stock) with a short-interest ratio of 0.7 days, signaling increased bearish positioning.
• Analysts are mixed: the consensus rating is "Hold" with a consensus price target of $5.38 (three Buys, two Holds, one Sell), while firms have recently issued both downgrades and a notable target cut to $4 by HC Wainwright.
• BitFuFu missed the quarter—reported EPS of ($0.20) vs. ($0.02) expected and revenue of $91.8M vs. $105.15M consensus—reflecting negative net margin and return on equity.

BitFuFu Inc. (NASDAQ:FUFU - Get Free Report) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totaling 174,930 shares, an increase of 52.3% from the March 31st total of 114,826 shares. Based on an average daily trading volume, of 252,283 shares, the short-interest ratio is currently 0.7 days. Approximately 0.2% of the company's stock are sold short.

Analysts Set New Price Targets

Several research firms have recently issued reports on FUFU. Weiss Ratings reiterated a "sell (d+)" rating on shares of BitFuFu in a report on Monday, April 20th. Wall Street Zen lowered BitFuFu from a "hold" rating to a "sell" rating in a research report on Saturday, March 28th. Zacks Research raised BitFuFu from a "strong sell" rating to a "hold" rating in a report on Monday, April 20th. Finally, HC Wainwright cut their target price on BitFuFu from $7.00 to $4.00 and set a "buy" rating on the stock in a research note on Monday, March 23rd. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, BitFuFu currently has an average rating of "Hold" and a consensus price target of $5.38.

BitFuFu Price Performance

NASDAQ FUFU opened at $2.01 on Tuesday. BitFuFu has a one year low of $1.56 and a one year high of $5.38. The stock has a 50-day moving average of $2.21 and a 200 day moving average of $2.73. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.93 and a current ratio of 2.94. The company has a market capitalization of $334.62 million, a price-to-earnings ratio of -5.91 and a beta of 0.42.

BitFuFu (NASDAQ:FUFU - Get Free Report) last posted its earnings results on Friday, March 20th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.18). BitFuFu had a negative net margin of 12.06% and a negative return on equity of 13.82%. The company had revenue of $91.80 million for the quarter, compared to the consensus estimate of $105.15 million. On average, sell-side analysts forecast that BitFuFu will post 0.06 EPS for the current year.

Institutional Investors Weigh In On BitFuFu

Several institutional investors and hedge funds have recently added to or reduced their stakes in FUFU. Engineers Gate Manager LP purchased a new stake in BitFuFu during the 2nd quarter valued at $36,000. Boothbay Fund Management LLC purchased a new position in shares of BitFuFu in the 4th quarter worth $31,000. Jane Street Group LLC bought a new stake in shares of BitFuFu in the first quarter worth $57,000. Prelude Capital Management LLC bought a new stake in shares of BitFuFu in the third quarter worth $48,000. Finally, Squarepoint Ops LLC purchased a new stake in BitFuFu during the third quarter valued at $48,000. Hedge funds and other institutional investors own 37.26% of the company's stock.

BitFuFu Company Profile

BitFuFu Inc provides digital asset mining and cloud-mining services in Singapore. It also offers miner rental, and miner hosting and sales services to institutional customers and individual digital asset enthusiasts. The company is based in Singapore, Singapore.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.